Midwest Manufacturing Rose 1.6% in Nov., Auto Sector Leads Gains
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Manufacturing in the Midwestern U.S. showed some positive gains in November, according to the latest data from the Chicago Fed.
The Chicago Fed Midwest Manufacturing Index (CFMMI) rose 1.6 percent in November, more than offsetting a revised 1.1 percent drop in October. The seasonally-adjusted CFMMI came in at 93.7.
Regional output rose 7.3 percent in November from a year earlier, and national output increased 3.1 percent, the Chicago Fed noted.
Auto sector production rose 3.6 percent, steel was up 0.9 percent, resource rose 0.7 percent, and machinery production moved 0.2 percent higher.
U.S. markets look positive in early trading Thursday amid the data.
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The Chicago Fed Midwest Manufacturing Index (CFMMI) rose 1.6 percent in November, more than offsetting a revised 1.1 percent drop in October. The seasonally-adjusted CFMMI came in at 93.7.
Regional output rose 7.3 percent in November from a year earlier, and national output increased 3.1 percent, the Chicago Fed noted.
Auto sector production rose 3.6 percent, steel was up 0.9 percent, resource rose 0.7 percent, and machinery production moved 0.2 percent higher.
U.S. markets look positive in early trading Thursday amid the data.
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